Women-owned firms worth £8.8bn to Scotland

New research published by the Federation of Small Businesses (FSB) reveals that the contribution made to the Scottish economy by women-owned businesses increased by 76% from £5 billion gross value added (GVA) in 2012 to £8.8 billion based on 2015 data.

The research shows women-owned businesses are now responsible for creating 231,000 Scottish jobs, up from 153,000 in 2012.

The FSB report was authored by Women’s Enterprise Scotland and staff from the University of Portsmouth and the University of South Wales.

The new report called “Supporting Women’s Enterprise in the UK: The Economic Case,” shows women-owned businesses contribute £105 billion to the UK economy, an increase of 40% since comprehensive data was last collected and analysed.

Lorna Trainer, a member of the FSB’s Scotland policy unit, said: “Over the last decade, the community of female entrepreneurs in Scotland has grown dramatically.

“That’s due to any number of factors – but we shouldn’t forget to give credit to the women themselves.

“Up and down Scotland women in business have been turning hard work and determination into jobs and turnover.

“But we can’t rest on our laurels.

“Scotland’s business start-up rate still lags behind both the UK average and our international competitors.

“One way to address this problem is to get even more women to start up on their own.

“FSB continues to influence policymakers on this whilst offering valuable tools to its members – from networking to access to finance.”

Carolyn Currie, CEO of Women’s Enterprise Scotland, said: “We must ensure that this momentum continues and we are calling on decision makers and key business influencers to step forward and help to provide the needs based support that these businesses need to continue growing.

“With dedicated resources and support, women-owned businesses have the opportunity to harness the momentum already created and continue to grow their economic impact and value across all areas of the UK and all sectors.”